»
Washington D.C.

Current Mortgage Rates in Washington DC

Compare mortgage rates and fees for leading lenders in Washington DC. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Washington DC.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Washington DC. Plus, shopping lenders is free and there is no obligation.

%
Mortgage Rates in Washington DC as of July 7, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
PERSONALIZED MORTGAGE QUOTE

$
LEADING LENDERS ● LOW RATES ● FREE ● NO SSN

How Do Today's Washington DC Mortgage Rates Compare?

July 7, 2020

The current average rate for a 30 year fixed rate mortgage in Washington DC is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Washington DC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Washington DC?

Below we provide helpful information on the real estate market, home prices and housing affordability in Washington DC. Understand how much you need to earn to afford a home in Washington DC, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Washington DC fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Washington DC is right for you.

The median home value for Washington DC is $680,277

Based on current mortgage rates and a 10% down payment, you need to make $122,432 per year to buy the median priced home in Washington DC

With this income, you could qualify for a $612,249 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Washington DC is $2,835

The median household income for Washington DC is $81,892

Based on this income, you can afford a home valued at approximately $455,020

The home price you can afford to buy based on household income in Washington DC is 67% of the median home value which means housing prices are very expensive. Washington DC ranks 3,109 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Washington DC is very expensive

orange-simple-house
ruler

Loan Limits for Washington DC

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Washington DC below.

Conforming loan limits for Washington DC

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

FHA loan limits for Washington DC

1 unit: $765,600
2 units: $980,325
3 units: $1,184,925
4 units: $1,472,550

VA loan limits for Washington DC

1 unit: $765,600

Additional Mortgage Resources for Washington DC Residents